Dublin, July 05, 2021 (GLOBE NEWSWIRE) -- The "Long-Distance General Freight Trucking Global Market Report 2021: COVID-19 Impact and Recovery to 2030" report has been added to ResearchAndMarkets.com's offering.
This report provides strategists, marketers and senior management with the critical information they need to assess the global long-distance general freight trucking market as it emerges from the COVID-19 shut down.
The global long-distance general freight trucking market is expected to grow from $536.55 billion in 2020 to $601.87 billion in 2021 at a compound annual growth rate (CAGR) of 12.2%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $826.54 billion in 2025 at a CAGR of 8.3%.
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Where is the largest and fastest growing market for the long-distance general freight trucking ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The Long-Distance General Freight Truckin market global report answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography. It places the market within the context of the wider long-distance general freight trucking market, and compares it with other markets.
- The market characteristics section of the report defines and explains the market.
- The market size section gives the market size ($b) covering both the historic growth of the market, the impact of the COVID-19 virus and forecasting its recovery.
- Market segmentations break down market into sub markets.
- The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by geography and compares their historic and forecast growth. It covers the impact and recovery trajectory of COVID-19 for all regions, key developed countries and major emerging markets.
- Competitive landscape gives a description of the competitive nature of the market, market shares, and a description of the leading companies. Key financial deals which have shaped the market in recent years are identified.
- The trends and strategies section analyses the shape of the market as it emerges from the crisis and suggests how companies can grow as the market recovers.
- The long-distance general freight trucking market section of the report gives context. It compares the long-distance general freight trucking market with other segments of the long-distance general freight trucking market by size and growth, historic and forecast.
Major players in the long-distance general freight trucking market are XPO Logistics Inc., YRC Worldwide Inc., FedEx Corporation, JB Hunt Transport Services Inc., Knight-Swift Transportation Holdings Inc., Old Dominion Freight Line, Progressive Carriers, Joe's Logistics, Universal Truckload, and Reynold Transportation.
The long-distance general freight trucking market consists of sales of long-distance general freight trucking services and related goods by entities (organizations, sole traders, and partnerships) that provide long-distance general freight trucking services. General freight establishments handle a wide variety of commodities, generally palletized and transported in a container or van trailer. Long-distance general freight trucking establishments usually provide trucking between metropolitan areas which may cross country borders. Included in this industry are establishments operating as truckload (TL) or less than truckload (LTL) carriers. Only goods and services traded between entities or sold to end consumers are included.
Electric trucks are being increasingly used by the long-distance general freight trucking market for transportation which is expected to propel the market growth. Numerous retailers and transporters are putting in huge orders of electric trucks for beverage routes and last-mile delivery. In September 2020, Amazon bought 10 electric trucks from Lion Electric, and in September 2019, Amazon ordered 100,000 electric delivery vans from startup Rivian with deliveries from 2021 to 2024. Similarly, in November 2018, FedEx Corp. expanded its fleet to 1000 electric delivery vehicles of which 100 were bought from Chanje Energy and leased 900 from Ryder System.
The long-distance general freight trucking market covered in this report is segmented by services into truckload carriers; less-than-truckload carriers; other transportation services and by activities into general long-distance truckload transit; general long-distance less-than-truckload transit; logistics planning; container trucking long-distance; motor freight trucking long-distance.
In June 2020, Mark-It Express Logistics, a US-based intermodal trucking and freight brokerage company, has acquired the operating assets of Sava Transportation for an undisclosed amount. The acquisition will help Mark-It Express Logistics to offer flexible and robust solutions to their customers and will add 20 more trucks to its fleet. This acquisition will also diversify its customer base and increase the market share. Sava Transportation, a US-based company specializing in intermodal traffic.
An increase in manufacturing output of different industries is expected to drive the growth of the long-distance general freight trucking market. More manufacturing output calls for more trucking to carry the freight from one place to another. In March 2020, Tesla planned to increase electric vehicle production capacity in China. This production capacity will be 250,000 cars a year. To transport these manufactured cars, there will be a need for freight trucking. In June 2020, Tesla semi which is used for long haul trucking was transporting the cars. Thus, the increased manufacturing output which results in increased trucking for transportation of the finished products is leading to the growth of the long-distance general freight trucking market.
Travel restrictions and lockdowns during COVID 19 are limiting the growth of the long-distance general freight trucking market. Coronavirus lockdown limitations have restricted freight movement raising operating expenses, and increased anxiety among drivers and crew members. According to an analysis by Geotab Inc., a web analytics company, there was a significant drop in the commercial transport activity between 16 March 2020 and 8 May 2020 in the United States, when compared with baseline data from February 2020. The commercial transport activity of the United States is working at an average of 83% of total commercial transport activity. This decrease in activity is felt more seriously in federal regions, such as in New York and New Jersey, with working levels at 66% of normal activity. Thus, these variables such as travel restrictions and lockdown are affecting the development of the long-distance general freight trucking market.
Key Topics Covered:
1. Executive Summary
2. Long-Distance General Freight Trucking Market Characteristics
3. Long-Distance General Freight Trucking Market Trends and Strategies
4. Impact of COVID-19 on Long-Distance General Freight Trucking
5. Long-Distance General Freight Trucking Market Size and Growth
5.1. Global Long-Distance General Freight Trucking Historic Market, 2015-2020, $ Billion
5.1.1. Drivers of the Market
5.1.2. Restraints on the Market
5.2. Global Long-Distance General Freight Trucking Forecast Market, 2020-2025F, 2030F, $ Billion
5.2.1. Drivers of the Market
5.2.2. Restraints on the Market
6. Long-Distance General Freight Trucking Market Segmentation
7. Long-Distance General Freight Trucking Market Regional and Country Analysis
7.1. Global Long-Distance General Freight Trucking Market, Split by Region, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
7.2. Global Long-Distance General Freight Trucking Market, Split by Country, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
8. Asia-Pacific Long-Distance General Freight Trucking Market
9. China Long-Distance General Freight Trucking Market
10. India Long-Distance General Freight Trucking Market
11. Japan Long-Distance General Freight Trucking Market
12. Australia Long-Distance General Freight Trucking Market
13. Indonesia Long-Distance General Freight Trucking Market
14. South Korea Long-Distance General Freight Trucking Market
15. Western Europe Long-Distance General Freight Trucking Market
16. UK Long-Distance General Freight Trucking Market
17. Germany Long-Distance General Freight Trucking Market
18. France Long-Distance General Freight Trucking Market
19. Eastern Europe Long-Distance General Freight Trucking Market
20. Russia Long-Distance General Freight Trucking Market
21. North America Long-Distance General Freight Trucking Market
22. USA Long-Distance General Freight Trucking Market
23. South America Long-Distance General Freight Trucking Market
24. Brazil Long-Distance General Freight Trucking Market
25. Middle East Long-Distance General Freight Trucking Market
26. Africa Long-Distance General Freight Trucking Market
27. Long-Distance General Freight Trucking Market Competitive Landscape and Company Profiles
27.1. Long-Distance General Freight Trucking Market Competitive Landscape
27.2. Long-Distance General Freight Trucking Market Company Profiles
27.2.1. XPO Logistics Inc.
27.2.1.1. Overview
27.2.1.2. Products and Services
27.2.1.3. Strategy
27.2.1.4. Financial Performance
27.2.2. YRC Worldwide Inc.
27.2.2.1. Overview
27.2.2.2. Products and Services
27.2.2.3. Strategy
27.2.2.4. Financial Performance
27.2.3. FedEx Corporation
27.2.3.1. Overview
27.2.3.2. Products and Services
27.2.3.3. Strategy
27.2.3.4. Financial Performance
27.2.4. JB Hunt Transport Services Inc.
27.2.4.1. Overview
27.2.4.2. Products and Services
27.2.4.3. Strategy
27.2.4.4. Financial Performance
27.2.5. Knight-Swift Transportation Holdings Inc.
27.2.5.1. Overview
27.2.5.2. Products and Services
27.2.5.3. Strategy
27.2.5.4. Financial Performance
29. Key Mergers and Acquisitions in the Long-Distance General Freight Trucking Market
29. Long-Distance General Freight Trucking Market Future Outlook and Potential Analysis
30. Appendix
For more information about this report visit https://www.researchandmarkets.com/r/56g5qv